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The Fair COLA for Seniors Act of 2021
Rep. John Garamendi (D-CA) has reintroduced a bill that seeks to tie Social Security cost of living adjustment (COLA) to an index that more accurately reflects how seniors spend their money. The “Fair COLA for Seniors Act of 2021” would require Social Security to use the experimental Consumer Price Index for the Elderly (CPI-E) instead of (CPI-W. In a press release by Rep. Garamendi, H.R. 4315 would increase benefits and ensure that cost of living adjustments in Social Security reflect were the real rising costs for seniors and disabled Americans.” For more details on this bill, click here…